Norway rejects proposed ban on Bitcoin mining

The proposal to ban Bitcoin mining in Norway has been rejected by the Norwegian Parliament.

The proposal to ban Bitcoin mining in Norway was first suggested in March this year by the Red Party (Norway’s communist party.)

The proposal was overturned as only Norway’s left-leaning parties, including the Socialist Left Party, the Red Party and the Green Party would support a ban on cryptocurrency mining.

Contrary to the political parties’ efforts, Bitcoin mining companies in Norway have thrived in recent years. Norway now contributes as much as 1% to the global Bitcoin hash rate.

Cointelegraph had previously reported that Norway is a “green oasis” for Bitcoin mining as it boast abundant hydropower and low energy prices, particularly in the north.